LeapZipBlog: Steve Blade's blog: Big Data Technology and Services Market Future Growth, Global Survey and In-Depth Analysis Research Report 2027

Big Data Technology and Services Market Future Growth, Global Survey and In-Depth Analysis Research Report 2027

August 30, 2019 by Steve Blade  

As per the new report compiled by Fact.MR, the global market for big data technology and services is likely to witness strong growth. The market is expected to increase to 22.6% CAGR between 2017 and 2026. The global big data technology and services market is estimated to reach US$ 183,971.9 million dollar by the end of 2026. One of the biggest trends in the big data technology and services market is the rise in market consolidation. Increasing number of computing vendors are acquiring companies to offer new big data technologies. Big data service providers are also focusing on increasing processing capabilities of big data solution. Following insights show how the global big data technology and services market will perform in the coming years.

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Highlights on Global Big Data Technology and Services Market

  • North America is expected to remain dominant in the global big data technology and services market during the forecast period 2017-2026. A significant increase in data generation from various industry verticals is one of the key factors driving the big data technology and services market in North America. Big data technology and services market is witnessing growth in the U.S. and Canada. Moreover, healthcare and retail industry are the largest users of big data applications.
  • The software is expected to gain maximum traction in global big data technology and services market. By the end of 2026, software is estimated to surpass US$ 72,400 million revenue. 
  • BFSI is likely to emerge as one of the largest industries in the global market for big data technology and services between 2017 and 2026. BFSI is projected to bring in close to US$ 33,700 million revenue towards 2026 end.
  • Big data technology and services to find the largest application in datacenter networking infrastructure during 2016-2026. Datacenter networking infrastructure is estimated to bring in nearly US$ 40,900 million revenue by the end of 2026.

BFSI Industry to Represent a Leading Segment

As the need for gathering and analyzing valuable business information and insights arises, demand for big data analytics software continues to remain high. On the basis of category type, the software segment is expected to represent the highest revenue growth, accounting for a value of over US$ 22,100 Mn by the end of 2026. In addition, the software category type segment is expected to register a significant CAGR throughout the forecast period.

Based on industry, the BFSI segment is expected to witness a significant revenue growth, recording a value of over US$ 1,400 Mn by the end of 2017. On the other hand, the retail & consumer goods industry segment is expected to register a healthy CAGR through 2026.

By application, the analytics and discovery segment is expected to generate significant revenues, accounting for a value of over US$ 12,100 Mn by the end of 2026. In contrary, the datacenter networking infrastructure application segment is expected to register a robust CAGR during the forecast period.

Competition Tracking  

Leading market players operating in the global big data technology and services market include IBM, Oracle Corporation, Microsoft Corporation, HP, SAP SE, Amazon Web services, Dell Incorporation (EMC), Teradata, Cisco Corporation and SAS Institute.

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